〈Asian Post, Feb 4, 2017〉The first batch of homes to go on sale in Hong Kong in the Year of the Rooster has almost sold out on day one, in an early sign that the city's property market remains buoyant.

Buyers had snapped up 100 out of 105 units in the third round of sales at Pavilia Bay in Tsuen Wan by evening yesterday after they became available in the morning. Pavilia Bay is a joint project between New World Development and Vanke Property (Overseas).

"Those left unsold are three- to four-bedroom units costing about HK$20 million each," said Sammy Po, chief executive at Midland Realty's residential department.

But sales of some studio flats on high floors, priced at HK$20,000 per square foot, are also proving hard to shift, he said.

Studio, one- and two-bedroom flats costing from about HK$5 to $8 million each had sold out first, Po said. The sale was seven times oversubscribed, with 800 people registering to buy one of the 105 homes on offer.

Including the latest sales, the developers have sold about 690 units since the project's launch last month. Pavilia Bay, consisting of 983 units, is about five minutes' walk from West Rail's Tsuen Wan West station.

New World chairman Henry Cheng Kar-shun was rumoured to have suffered a minor stroke on the eve of the Lunar New Year last week. Cheng, 70, had not been felling well recently and was on leave to rest, New World said in a statement on Wednesday, without elaborating.

〈Asian Post, Feb 3, 2017〉Hong Kong's first-time flat buyers are not the only ones who have it tough - other home hunters around the world also struggle to get the keys to their first residences, and depending on where they live, are entitled to varying degrees of government assistance.

Australia First-time home buyers can be eligible for a grant of up to A$26,000 (HK$154,290), depending on their circumstances and the state they reside in. Buyers in Sydney, New South Wales, for example, can qualify for a A$10,000 grant for new homes which cost up to A$750,000, provided they live in the property for at least the first six months of ownership.

United Kingdom The help-to-buy equity loan is not strictly for first-time home buyers, but most applicants fall into this category. The loan requires the buyer to put down a 5 per cent deposit, with the government offering an interest-free loan on a further 20 per cent. The final 75 per cent is covered by the mortgage. The catch is that it's only available on newly built properties worth up to £600,000 (HK$5.9 million). The government has announced plans to launch a starter home scheme this year, offering a 20 per cent discount on a property to first-time home buyers aged between 23 and 40.

Canada The government allows first-time home buyers to borrow up to C$25,000 (HK$149,000) from their Registered Retirement Savings Plan to use as a tax-free down payment on a house. The sum has to be paid back within 15 years. First-time buyers are also eligible for a C$750 tax credit, which allows buyers to recover some of the costs incurred from their purchases such as legal fees and home inspections.

United States There are a number of grants available for first-time home buyers, including under the American Dream Downpayment Initiative. The initiative offers a maximum grant of US$10,000 to first-time home buyers who have below-average incomes, to help with costs and down payments.

〈The Standard, Feb 3, 2017〉Hong Kong Monetary Authority is warning bankers and investors to beware of the risks of a rate rise later this year despite the US Federal Reserve opting to keep interest rates flat on Wednesday.

Meanwhile currency traders believe a rate rise will not come before June.

"The US Federal Open Market Committee maintained interest rates unchanged at its meeting on Wednesday. The committee acknowledged that the US economy continued to progress towards the US Fed's policy objectives of maximum employment and price stability, bolstering the case for gradually raising interest rates this year," according to a spokesman for the HKMA, the de facto central bank of Hong Kong.

"The gradual normalisation of US interest rates may have an impact on global capital flows, exchange rates and asset markets.

"We continue to remind banks, corporates and individuals to remain vigilant and manage risks prudently so as to cope with potential changes in capital flows and market volatility arising from future increases in US interest rates."

The authority's warning echoed that of Chan Ka-keung, the Secretary for Financial Services and the Treasury. He said the expected interest rate rise would be one of the major challenges faced by Hong Kong's investment market this year.

"The US is expected to have several interest rate raises this year," Chan said. "Under the currency peg, Hong Kong would need to follow the US in increasing its own interest rates. This would add more uncertainties to the local investment markets. Investors would need to make a cautious investment approach this year."

〈Asian Post, Feb 2, 2017〉Hong Kong property investors are attempting to cash in their luxury houses for huge profits as the sector continues to perform spectacularly.

To capitalise on the rising prices of high-end homes, agents said more owners in Southern district, including Stanley and The Peak, are pondering taking profit from their long-term investments.

For example, a 2,060-square-foot house at Hoi Fung Path, Stanley, which is estimated to be worth HK$220 million, recently came on the market, according to joint sole agent CBRE.

The price tag for the two-storey house, which has a private pool and a 500 sq ft garden, translates into HK$106,796 per square foot, which would set a new record if a buyer is found.

The owner, a local businessman, had bought the house in 2002 for HK$16 million and lived there ever since.

Separately, a 2,903 sq ft house, No 20 at the luxury development known as Strawberry Hill, at 8 Plunkett's Road on the Peak, is being offered for HK$190 million, or HK$65,449 per square foot, said Jerry Yuen, associate director, capital markets at CBRE Hong Kong .

"Prices for houses should continue to grow due to the scarce supply," said Yuen.

He said the property at Hoi Fung Path could be purchased through company shares. If the transaction was done this way, he said the buyer would probably be asked to pay 0.2 per cent stamp duty instead of as much as 30 per cent.

〈The Standard, Feb 1, 2017〉Demand for car-park spaces has turned robust again as the market recorded at least five "big amount" transactions of parking spots worth a total of about HK$150 million, with each deal topping HK$20 million.

Property analysts point out that the cooling measure introduced in November - a flat rate of 15 percent stamp duty for non-first time residential buyers - has sparked interest in properties such as car-park spaces since they are exempted from the levy.

A group of senior investors recently splashed out HK$60.5 million - HK$7.5 million below the asking price - to buy 36 car-park spaces at Times Tower on Jaffe Road, Causeway Bay. The average price for each spot was HK$1.68 million.

The 36 spaces generate a monthly income of about HK$210,000, or a return rate of about 4.2 percent for the new owners. In addition to having the parking bays for long-term rental income purposes, the new owners also have the option of selling them in several batches to realize even a higher rate of return.

Another senior investor, Mr Choi, acquired 36 car-park spaces at Lido Garden on Castle Peak Road in Sham Tseng for HK$28.8 million, or HK$800,000 per spot.

Choi also shelled out HK$23 million for 13 car-park spaces at Shining Court in Cheung Sha Wan. The return rate for those car-park slots located on Shun Ning Road is about 3 percent.